Estate Planning Attorney in San Antonio, Texas

Many people believe estate planning is essential when planning for the future. However, very few people have taken the time to draft an adequate estate plan. With an estate plan, you can plan for end-of-life decisions, distribute assets to loved ones, give back to charities, leave funeral instructions, and specify any other final wishes. Detailing these decisions can help you avoid potential family conflicts and disputes when it comes to settling all of your final affairs. 

If you're considering creating an estate plan or would like to learn more about how the process works, consult an experienced estate planning attorney for detailed guidance. Attorney James P Peterson is passionate about offering reliable legal services and guidance to individuals and families in Texas. 

As your attorney, he can help you explore all of your legal options and assist you with the drafting of all of the estate planning documents you may need, including wills, trusts, powers of attorney, Affidavits of Heirship, and advanced care directives. James P. Peterson Attorney at Law serves clients across San Antonio, Texas, and the surrounding communities of Boerne and New Braunfels. 

Why is Estate Planning Important?

Estate planning involves making plans in advance for how a person's final affairs should be managed or how their property should be distributed to loved ones upon death or sudden incapacitation.

Detailed estate planning documents can provide surviving family members with guidance on how to settle the decedent's final affairs, settle estate taxes, and distribute assets to beneficiaries. Estate planning has several benefits and can help you achieve the following: 

• Prepare for an uncertain future 

• Make adequate plans for your financial future, legal future, and healthcare 

• Protect your assets, including any property, investments, and other financial interests 

• Designate an administrator or select someone you trust as your representative 

• Protect any minor children and provide for them 

• Provide for your surviving family members and close relatives 

• Protect your assets and investments from creditors and lawsuits 

• Have complete control over who inherits your assets 

• Avoid or mitigate family disputes and conflicts over property distribution 

• Determine assets you want to give to charities 

• Help inheritors avoid taxes, including inheritance, estate, and gift taxes 

• Help your estate avoid the costly and lengthy probate process 

• Ensure that you don't die without a will (intestate) 

Investing time and thought into estate planning can help safeguard your legacy and make sure your wishes are honored after your passing.

Important Estate Planning Tools

For those who are contemplating drafting an estate plan, there are some important estate planning tools that you may want to consider. These include:

Wills 

A will is a legal document containing specific instructions about transferring assets to any heirs and beneficiaries upon your death. Drafting a will also allows you to choose a guardian to handle your final affairs and help manage any inheritance left for minor children. A will is also helpful in avoiding potential disputes and family conflicts, as it outlines your specific wishes for the distribution of assets.  There are certain legal requirements of a valid will. That is why you need a lawyer to help you draft and sign a will.

Trusts 

A trust is a document establishing fiduciary relationship that allows a person (trustor or guarantor) to appoint an independent third party (trustee) to manage their final affairs and transfer assets to inheritors upon the guarantor's death or sudden incapacitation.

Assets that can be included in your trust are real estate property, bank accounts, savings, investments, and business interests. There are many different types of trusts, including revocable living trusts, irrevocable trusts, testamentary trusts, special needs trusts, and more.  Your lawyer can advise which ones are best for your situation.

Powers of Attorney 

A power of attorney designates authority to the person of your choosing to act on your behalf during your lifetime in financial, medical, and other legal matters when you're unavailable or unable to make such decisions on your own. You may give legal duty and power to your attorney, a trusted family member, a friend, or a personal advisor. 

Advance Directives 

An advance care directive is a legal document that provides certain instructions about the preferred medical care of a person if they become unable to make medical decisions on their own, perhaps due to sudden incapacitation, terminal illness, or disability. An advance care directive typically includes a living will, medical power of attorney, and sometimes even a do-not-resuscitate order (DNR). 

Affidavits of Heirship

An Affidavit of Heirship is a sworn statement that can be used by the heirs to establish property ownership of real property and automobiles when the original owner dies intestate (without a will). It can transfer real estate and motor vehicles, but not bank accounts. This document is completed after you die, by witnesses who have knowledge of the decedent's family, children, property, and heirship. If you plan well this document is not necessary.

HIPAA Release Form

A HIPAA release form is a crucial document that allows individuals to authorize the disclosure of their health information to specific parties. By signing a HIPAA release form, individuals can ensure their medical information can be shared with family members, caregivers, or legal representatives, facilitating better communication and decision-making regarding their healthcare needs. 

Work With an Experienced  
Estate Planning Attorney

Putting your end-of-life plans in writing can help ease the burden on your family members and loved ones after you are gone. Your surviving loved ones can have peace of mind knowing that you have a plan in place for the future. An experienced Texas estate planning attorney can help you protect your assets, provide for your loved ones, and legally enforce your wishes for after you’re gone. 

Attorney James P Peterson has devoted his career to providing experienced legal guidance to clients on various estate planning matters. As your legal counsel, James can evaluate your unique situation and help you choose the right estate plan that best suits your needs.